Permian Resources Corporation (NYSE: PR) made an announcement on August 3 regarding its dividend policy. The company's Board of Directors has declared a quarterly base cash dividend of $0.05 per share of Class A common stock, which translates to $0.20 per share on an annual basis. Additionally, the Board has also approved a quarterly variable cash dividend of $0.05 per share of Class A common stock. When combined, the base and variable dividends amount to a total of $0.10 per share.
Shareholders of record as of August 15, 2023, will be eligible to receive these dividends. The payouts are scheduled for August 23, 2023.
Permian Resources Corporation, with its headquarters based in Midland, Texas, operates as an independent oil and natural gas company. The company's primary focus is on acquiring, optimizing, and developing high-return oil and natural gas properties. Their assets and operations are strategically located in the core of the Delaware Basin, positioning the company for potential growth and success in the industry.
As the company continues to navigate the oil and natural gas market, the declared dividends serve as a testament to Permian Resources' commitment to providing value to its shareholders. The dividends represent a return on investment for shareholders, further solidifying the company's dedication to its responsible growth strategy in the oil and natural gas sector.